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Fraud & ID Theft Prevention | Community & Southern Bank | Atlanta - Carrollton - Ellijay | GA - Georgia

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Fraud & ID Theft Prevention

Identity Theft

Identity Theft is a growing problem and can be devastating to your personal finances. Identity theft occurs when someone assumes your identity to perform a fraud or other criminal act. Criminals can get the information they need to assume your identity from a variety of sources, including by stealing your wallet, rifling through your trash, or by compromising your credit or bank information. They may approach you in person, by telephone, or on the Internet and ask you for the information.

You can minimize your risk of loss from Identity Theft by following a few simple hints.

Tips for Avoiding Identity Theft:

  • Never throw away ATM receipts, credit statements, credit cards, or bank statements in a usable form.
  • Never give your credit card number over the telephone unless you make the call.
  • Reconcile your bank account monthly, and notify your bank of discrepancies immediately.
  • Keep a list of telephone numbers to call to report the loss or theft of your wallet, credit cards, etc.
  • Report unauthorized financial transactions to your bank, credit card company, and the police as soon as you detect them.
  • Review a copy of your credit report at least once each year. Notify the credit bureau in writing of any questionable entries and follow through until they are explained or removed.
  • If your identity has been assumed, ask the credit bureau to print a statement to that effect in your credit report.
  • If you know of anyone who receives mail from credit card companies or banks in the names of others, report it to local or federal law enforcement authorities.

To learn more about Identity Theft and how to reduce your risk of being a victim, visit: http://www.consumer.ftc.gov

Fraud Prevention

Phishing (pronounced "fishing)

Phishing is a type of criminal activity that attempts to acquire sensitive information such as usernames, passwords, and credit/debit card details by masquerading as a trustworthy entity in an electronic communication. Don't respond to an email, phone call, or text message that:

  • Requires you to supply personal or account information directly in the email
  • Threatens to close or suspend your account if you do not take immediate action
  • Invites you to answer a survey that asks you to enter personal or account information
  • States that your account has been compromised or that there has been third-party activity on your account, then asks you to enter or confirm your personal information.
  • Asks you to enter your User ID, Password, or account numbers, PIN or card expiration dates into an email, non-secure webpage or text message

Advance Fee Scams

An advance fee scheme occurs when the victim pays money to someone in anticipation of receiving something of greater value--such as a loan, contract, investment, or gift--and then receives little or nothing in return.

The variety of advance fee schemes is limited only by the imagination of the con artists who offer them. They may involve the sale of products or services, the offering of investments, lottery winnings, "found money," or many other "opportunities." Clever con artists will offer to find financing arrangements for their clients who pay a "finder's fee" in advance. They require their clients to sign contracts in which they agree to pay the fee when they are introduced to the financing source. Victims often learn that they are ineligible for financing only after they have paid the "finder" according to the contract. Such agreements may be legal unless it can be shown that the "finder" never had the intention or the ability to provide financing for the victims.

Tips for Avoiding Advanced Fee Schemes:

If the offer of an "opportunity" appears too good to be true, it probably is. Follow common business practice. For example, legitimate business is rarely conducted in cash on a street corner.

  • Know who you are dealing with. If you have not heard of a person or company that you intend to do business with, learn more about them. Depending on the amount of money that you plan on spending, you may want to visit the business location, check with the Better Business Bureau, or consult with your bank, an attorney, or the police.
  • Make sure you fully understand any business agreement that you enter into. If the terms are complex, have them reviewed by a competent attorney.
  • Be wary of businesses that operate out of post office boxes or mail drops and do not have a street address. Also be suspicious when dealing with persons who do not have a direct telephone line and who are never in when you call, but always return your call later.
  • Be wary of business deals that require you to sign nondisclosure or non-circumvention agreements that are designed to prevent you from independently verifying the bona fides of the people with whom you intend to do business. Con artists often use non-circumvention agreements to threaten their victims with civil suit if they report their losses to law enforcement